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Liberty Energy Inc. (LBRT) stock

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NYSE: LBRT NYSE Oil & Gas Equipment & Services Next results ~January 28, 2027

C+ Fundamentals grade

Liberty Energy Inc. is a US-listed company in the oil & gas equipment & services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$17

Valuation models combined (4)

Base case. Range ~$11–$24. Weighted average of 4 models (growth cash-flow model, residual income, justified price-to-book, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Liberty Energy Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 3 selling3 purchases and 13 sales by directors and officers, last 12 monthsInsider trades
  • Funds209 adding, 205 cuttingOf 70 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Liberty Energy files

Where Liberty Energy stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $4.44bn, up 13.6% on a year earlier, faster than the 2.3% growth a quarter earlier. That growth ranks 3 of 18 among the oil & gas equipment & services companies we cover. Free-cash-flow margin fell to -14.7% from -0.1% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 7 financial-health checks. Our cash-flow model value is $23.53 a share, against a share price of $16.04.

Source: 10-Q filed October 22, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 28, 2027 (estimated)

Liberty Energy Inc.'s trailing-twelve-month revenue grew 13.6% year on year, with a free-cash-flow margin of -14.7%. Where it stands out: change in growth rate of +11.4pp ranks 3 of 34 oil & gas equipment & services companies we cover. Where it lags: free-cash-flow margin of -14.7% ranks 32 of 35 oil & gas equipment & services companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 30346.2% while net income fell 78.3%: a 30268pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 11.4 points higher than a quarter earlier.

Things to watch

  • Burning cash. Free cash flow was -14.7% of revenue over the last 12 months.
  • High earnings multiple. The shares trade at 60 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 59% and a beta of 1.2 against the S&P 500.
  • Gross margin slipping. Gross margin is down 3.1 points on a year ago.
  • Weak cash conversion. Free cash flow was -1619% of net income over the last 12 months.
  • Heavily shorted. 14.9% of the shares available to trade are sold short (4.6 days of average volume to cover).

Latest results: FY2026 Q3

Filed October 22, 2026
Earnings per share
$0.06 against an average estimate of $0.06: missed by 4.4%
Revenue
$1.20bn, up 26.3% on a year earlier
Share reaction
-7.2% in the first session after the results on October 21, 2026, against -0.7% for the S&P 500
Next report
October 21, 2026; average EPS estimate -$0.03

Liberty Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.2%
  • 1 week-11.4%
  • 1 month-22.3%
  • This year-19.6%
  • 1 year-17.1%
  • 5 years+28.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.4B
Operating margin
1.7%
Net margin
0.9%
EPS (TTM, diluted)
$0.24

Growth

Revenue growth
+13.6%
Change in growth rate
+11.4 pts
Share count change
+0.1%

Cash

Free cash flow (TTM)
-$652M
FCF margin
-14.7%
Stock pay % of revenue
0.8%

Earnings

Last results
October 21, 2026
Next results (est.)
January 28, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Agreement
  4. Results
  5. Announcement
  6. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Liberty Energy Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Liberty Energy Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.16 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$11 ~$6.1–$14 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$1.9 ~$1.7–$2.4 Left out: out of range vs price (0.13x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$24 ~$17–$34 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$23 ~$20–$26 Included
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: earnings are positive: price-to-earnings is the better measure
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$17 ~$11–$25 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$17 ~$11–$24 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Liberty Energy Inc. with Oil & Gas Equipment & Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$11.82$10.33$9.65$9.08$15.04$17.27$19.21$18.27$14.68
Market value$2.8bn$2.2bn$1.6bn$1.6bn$2.8bn$3.0bn$3.3bn$3.0bn$2.4bn
+ Net debt (− = net cash)$8m−$3m$39m$104m$176m$103m$171m$219m$1.2bn
Enterprise value$2.8bn$2.2bn$1.7bn$1.7bn$3.0bn$3.1bn$3.4bn$3.2bn$3.6bn
Multiples
Price / sales 1.3x1.1x1.7x0.6x0.7x0.6x0.8x0.8x0.5x
Price / earnings 22.0x55.7x——7.1x5.5x10.3x20.4x60.4x
Price / free cash flow 30.1x33.0x——36.3x7.4x18.2xn/m—
EV / EBITDA 6.5x8.1xn/m20.7x3.7x2.7x3.8x5.7x6.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

26 /100

Weak moat

How hard Liberty Energy's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Net income has been a median 5.4% of total assets over 9 years.

  • Pricing power 4 / 20

    Gross margin has been a median 19.9%, moving by 6.1 percentage points (standard deviation) across 9 years.

  • Durability 1 / 20

    Operating margin has been a median 6.5%; its worst year was -12.7%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 4 of 9 years, at a median -0.1% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 83.0% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.17 +13% $4.6bn +14%
Next $0.13 −21% $4.9bn +7%

Next year's EPS estimate has moved −80.6% in 90 days, across 7 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.06 $0.06 −4.4%
Jun 2026 $0.08 $0.09 +9.1%
Mar 2026 −$0.14 $0.06 +144.3%
Dec 2025 −$0.17 $0.05 +128.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 21, 2026

No numeric guidance in Liberty Energy Inc.'s latest earnings release (filed October 21, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

14 analysts, Oct 2026
Buy964%
Hold536%
Sell00%

Monthly trend

  1. Oct 202645514
  2. Sep 202645514
  3. Aug 202635513
  4. Jul 202635513

Counts of recommendations published by analysts covering Liberty Energy Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
14.9%
of tradable shares
Days to cover
4.62
at average volume
Short interest, 1 month
+15%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
2.0%
of shares
Employees
5,800
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −17.7%

$17.84 on October 31, 2025 to $14.68

ThenNowEffect
Revenue (last 12 months) $4.1bn $4.2bn +2.3%
Net margin 5.3% 2.9% −44.8%
P/E multiple 13.7x 19.9x +45.5%
Share count 167m 166m +0.2%

Biggest factor: net margin.

Last 3 years −23.5%

$19.19 on November 3, 2023 to $14.68

ThenNowEffect
Revenue (last 12 months) $4.9bn $4.2bn −13.9%
Net margin 12.6% 2.9% −76.9%
P/E multiple 5.8x 19.9x +245.5%
Share count 185m 166m +11.3%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
LBRT−6%+66%+15%+11%−5%−20%
Industry peers (median)+9%+38%−7%−9%+3%+19%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LBRT58%67%42%58%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LBRT−50%−40%−31%−32%−57%−56%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since January 11, 2018: 90% from May 21, 2018 to April 1, 2020. Getting back needed a 902% gain, reached on April 3, 2024, 1463 days after the low.

Price behaviour

52-week range
$14.68 – $33.68
From 52-week high
−56.4%
vs 50-day average
−21.0%
vs 200-day average
−40.2%
Volatility (1 year)
59%
Beta vs S&P 500
1.18

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±10.5%
After a week
7 up, 5 down
typical move ±13.9%
After a month
6 up, 5 down
typical move ±16.0%
Results releasedNext dayS&P 500 next day5 days21 days
October 21, 2026 −7.2% −0.7% +6.2% —
July 23, 2026 −30.9% −1.1% −28.6% −23.0%
April 23, 2026 +11.3% +0.4% +14.9% +8.2%
January 29, 2026 +13.1% −0.5% +8.8% +30.6%
October 17, 2025 +32.8% +1.6% +37.4% +34.8%
July 25, 2025 +0.8% +0.4% −10.4% −13.0%
April 17, 2025 +1.0% −2.2% +6.5% +4.7%
January 29, 2025 −4.3% +0.1% −11.5% −13.9%
October 16, 2024 −7.6% +0.4% −13.3% −12.4%
July 17, 2024 +1.6% −2.2% −3.9% −6.7%
April 18, 2024 +4.0% −1.1% +6.9% +10.0%
January 24, 2024 +11.1% +0.7% +18.1% +18.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Liberty Energy Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Liberty Energy Inc.
$3.5B $4B $4.5B $5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $4.7B Revenue (TTM), FY24 Q1: $4.6B Revenue (TTM), FY24 Q2: $4.5B Revenue (TTM), FY24 Q3: $4.4B Revenue (TTM), FY24 Q4: $4.3B Revenue (TTM), FY25 Q1: $4.2B Revenue (TTM), FY25 Q2: $4.1B Revenue (TTM), FY25 Q3: $3.9B Revenue (TTM), FY25 Q4: $4B Revenue (TTM), FY26 Q1: $4B Revenue (TTM), FY26 Q2: $4.2B Revenue (TTM), FY26 Q3: $4.4B $4.4B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $4.7B
FY24 Q1 $4.6B
FY24 Q2 $4.5B
FY24 Q3 $4.4B
FY24 Q4 $4.3B
FY25 Q1 $4.2B
FY25 Q2 $4.1B
FY25 Q3 $3.9B
FY25 Q4 $4B
FY26 Q1 $4B
FY26 Q2 $4.2B
FY26 Q3 $4.4B
Revenue growth, TTM YoY Liberty Energy Inc.
-20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 14.4% Revenue growth, TTM YoY, FY24 Q1: -1.3% Revenue growth, TTM YoY, FY24 Q2: -7.1% Revenue growth, TTM YoY, FY24 Q3: -9.2% Revenue growth, TTM YoY, FY24 Q4: -9.1% Revenue growth, TTM YoY, FY25 Q1: -7.4% Revenue growth, TTM YoY, FY25 Q2: -9.3% Revenue growth, TTM YoY, FY25 Q3: -12.0% Revenue growth, TTM YoY, FY25 Q4: -7.2% Revenue growth, TTM YoY, FY26 Q1: -4.0% Revenue growth, TTM YoY, FY26 Q2: 2.3% Revenue growth, TTM YoY, FY26 Q3: 13.6% 13.6%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 14.4%
FY24 Q1 -1.3%
FY24 Q2 -7.1%
FY24 Q3 -9.2%
FY24 Q4 -9.1%
FY25 Q1 -7.4%
FY25 Q2 -9.3%
FY25 Q3 -12.0%
FY25 Q4 -7.2%
FY26 Q1 -4.0%
FY26 Q2 2.3%
FY26 Q3 13.6%
Operating margin (TTM) Liberty Energy Inc.
0% 5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 16.0% Operating margin (TTM), FY24 Q1: 14.3% Operating margin (TTM), FY24 Q2: 13.0% Operating margin (TTM), FY24 Q3: 11.0% Operating margin (TTM), FY24 Q4: 9.0% Operating margin (TTM), FY25 Q1: 6.9% Operating margin (TTM), FY25 Q2: 4.6% Operating margin (TTM), FY25 Q3: 2.0% Operating margin (TTM), FY25 Q4: 1.8% Operating margin (TTM), FY26 Q1: 1.9% Operating margin (TTM), FY26 Q2: 1.3% Operating margin (TTM), FY26 Q3: 1.7% 1.7%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 16.0%
FY24 Q1 14.3%
FY24 Q2 13.0%
FY24 Q3 11.0%
FY24 Q4 9.0%
FY25 Q1 6.9%
FY25 Q2 4.6%
FY25 Q3 2.0%
FY25 Q4 1.8%
FY26 Q1 1.9%
FY26 Q2 1.3%
FY26 Q3 1.7%
FCF margin (TTM) Liberty Energy Inc.
-20% -10% 0% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 8.7% FCF margin (TTM), FY24 Q1: 7.8% FCF margin (TTM), FY24 Q2: 8.5% FCF margin (TTM), FY24 Q3: 8.1% FCF margin (TTM), FY24 Q4: 4.1% FCF margin (TTM), FY25 Q1: 5.3% FCF margin (TTM), FY25 Q2: 3.5% FCF margin (TTM), FY25 Q3: -0.1% FCF margin (TTM), FY25 Q4: 0.4% FCF margin (TTM), FY26 Q1: -4.8% FCF margin (TTM), FY26 Q2: -7.5% FCF margin (TTM), FY26 Q3: -14.7% -14.7%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 8.7%
FY24 Q1 7.8%
FY24 Q2 8.5%
FY24 Q3 8.1%
FY24 Q4 4.1%
FY25 Q1 5.3%
FY25 Q2 3.5%
FY25 Q3 -0.1%
FY25 Q4 0.4%
FY26 Q1 -4.8%
FY26 Q2 -7.5%
FY26 Q3 -14.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 375 1,490 2,155 1,990 966 2,471 4,149 4,748 4,315 4,006 4,445
Gross profit 20 343 526 369 108 221 1,000 1,399 1,115 838 801
EBITDA −13 263 432 269 3 82 819 1,182 895 573 536
Operating income −54 181 307 104 −177 −181 496 761 389 73 74
Net income 0 0 126 39 −116 −179 400 556 316 148 40
Diluted EPS — — $0.91 $0.27 −$0.68 −$1.03 $2.11 $3.15 $1.87 $0.89 $0.24
Growth (year on year)
Revenue — +297.5% +44.7% −7.6% −51.5% +155.8% +67.9% +14.4% −9.1% −7.2% +13.6%
EBITDA — — +64.4% −37.7% −98.9% — +904.4% +44.3% −24.3% −35.9% −9.1%
Operating income — — +69.2% −66.2% −270.9% — — +53.4% −48.8% −81.3% —
Net income — — — −69.1% — — — +39.2% −43.2% −53.2% −78.3%
Diluted EPS — — — −70.7% — — — +49.3% −40.6% −52.4% −78.4%
Margins
Gross margin 5.3% 23.0% 24.4% 18.5% 11.2% 8.9% 24.1% 29.5% 25.8% 20.9% 18.0%
EBITDA margin −3.5% 17.6% 20.0% 13.5% 0.3% 3.3% 19.7% 24.9% 20.7% 14.3% 12.1%
Operating margin −14.5% 12.2% 14.2% 5.2% −18.3% −7.3% 12.0% 16.0% 9.0% 1.8% 1.7%
Net margin 0.0% 0.0% 5.9% 2.0% −12.0% −7.3% 9.6% 11.7% 7.3% 3.7% 0.9%
Free-cash-flow margin −38.2% −7.8% 4.3% 3.3% −1.9% −2.6% 1.9% 8.7% 4.1% 0.4% −14.7%
Cash flow
Cash from operations −41 195 351 261 85 135 530 1,015 829 610 560
Capital spending 102 312 259 195 104 199 452 603 651 595 1,212
Free cash flow −143 −117 92 66 −18 −63 78 411 178 14 −652
Stock-based pay — 0 5 14 17 20 23 33 32 42 36
Free cash flow after stock pay — −117 87 52 −35 −83 55 378 146 −28 −689
Balance sheet
Cash 11 16 103 113 69 20 44 37 20 28 119
Total debt 0 196 112 110 108 124 220 140 191 247 1,324
Net debt (negative = net cash) −11 180 8 −3 39 104 176 103 171 219 1,205
Diluted shares — — 236m 211m 170m 174m 189m 176m 169m 165m 166m
Returned to shareholders
Dividends 0 0 7 15 4 0 9 38 48 54 60
Buybacks 0 0 83 18 0 0 125 203 129 25 0
Total returned 0 0 90 33 4 0 134 241 178 79 60

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · September 30, 2026
What it owns · $4.5bn
Short-term assets $1.1bnLonger-term assets $3.4bn
What it owes, and who funded it · $4.5bn
Short-term liabilities $857mLonger-term liabilities $1.7bnShareholders' equity $1.9bn
  • Short-term assets cover short-term liabilities $1.1bn of assets due within a year against $857m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.1bn short-term assets against $1.7bn of longer-dated liabilities.
  • More cash than debt $119m of cash against $1.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 67% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 17% to 67% over five years.
  • A year's operating cash flow covers at least 20% of debt $560m of operating cash flow against $1.3bn of debt.
  • Operating profit covers interest at least five times over Operating income of $74m against $27m of interest.

From Liberty Energy Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$0
Dividends (TTM)
$59.6M
Returned to shareholders
-9%
of free cash flow
Buybacks, last 3 fiscal years
$357M
Diluted share count
+0.1%
year over year
Total shareholder yield
2.5%
dividends 2.5% + buybacks 0.0% of market value
Dividend payout ratio
148%
of net income paid out
Days sales outstanding
35 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas equipment & services
Last 12 months unless stated LBRT WFRD OII EFXT NOV FTI Median
Revenue, last 12 months $4.4bn $4.7bn $2.9bn $2.6bn $8.7bn $10.7bn $1.2bn
Revenue growth, last 12 months 13.6% −5.7% 3.0% 6.5% −1.0% 9.1% 3.7%
Revenue growth, 3-year average −3.2% −2.0% 8.1% — 1.5% 12.8% 2.0%
Revenue growth, latest quarter 26.3% −7.2% 5.6% — 2.3% 9.4% 7.3%
Gross margin 18.0% 21.2% 19.9% 22.6% 20.7% — 21.1%
Operating margin 1.7% 12.4% 10.4% 11.9% 5.5% 16.8% 7.3%
Operating margin, 3-year average 4.9% 15.0% 10.0% — 7.2% 14.4% 7.2%
Net margin 0.9% 8.6% 11.4% 2.5% 1.6% 12.0% 2.6%
Cash from operations / revenue 12.6% 16.4% 13.1% 13.4% 7.0% 17.5% 11.7%
Free-cash-flow margin −14.7% 12.3% 9.9% 12.7% 3.1% 14.9% 2.0%
Free-cash-flow margin, 3-year average −2.2% 10.6% 6.2% — 7.3% 13.5% 4.0%
Stock pay / revenue 0.8% 1.1% 0.7% 1.0% 0.8% 1.1% 1.1%
Change in share count 0.1% −1.2% −0.9% −0.9% −4.5% −4.7% 1.0%

Median of all 35 companies we cover in oil & gas equipment & services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

35 oil & gas equipment & services companies
Measure Company Peer median Rank
Revenue growth Growth 13.6% 3.7% 6 of 35
Change in growth rate Growth +11.4pp +1.5pp 3 of 34
Gross margin Profitability 18.0% 21.5% 17 of 21
Operating margin Profitability 1.7% 7.2% 23 of 32
Net margin Profitability 0.9% 2.6% 26 of 35
Free-cash-flow margin Cash generation -14.7% 2.0% 32 of 35
Stock pay as % of revenue Cash generation 0.8% 1.1% 10 of 32
Long-term debt as % of assets Balance sheet 28.5% 22.6% 21 of 32
Change in share count Balance sheet 0.1% 1.0% 12 of 31
Days sales outstanding Balance sheet 35 days 74 days 3 of 26

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$4.8B
Institutions reporting
402
Shares held vs prior quarter
▲ 4.8%
Positions opened / closed
71 / 63

Top buyers and sellers, Q2 2026: 209 institutions bought and 205 sold ; the biggest buyer was UBS Group AG (+2.2M shares) and the biggest seller Arrowstreet Capital, Limited Partnership (−3.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $722M 27.6M 15.1% ▲ 7.2%
Vanguard Portfolio Management LLC $292M 11.2M 6.1% ▲ 6.0%
Dimensional Fund Advisors LP $247M 9.4M 5.2% ▲ 2.0%
State Street Corp $185M 7.1M 3.9% ▲ 2.9%
Vanguard Capital Management LLC $185M 7.1M 3.9% ▲ 1.1%
American Century Companies Inc $181M 6.9M 3.8% ▼ 10.0%
Geode Capital Management, LLC $120M 4.6M 2.5% ▲ 17.5%
Franklin Resources Inc $111M 4.2M 2.3% ▲ 6.7%
Frontier Capital Management Co LLC $97.4M 3.7M 2.0% ▲ 49.2%
Nomura Asset Management International Inc. $95.6M 3.6M 2.0% ▲ 7.2%
UBS Group AG $90.5M 3.5M 1.9% ▲ 183.5%
T. Rowe Price Investment Management, Inc. $90.1M 3.4M 1.9% ▼ 9.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Liberty Energy Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $723,357 3 trades by 2 insiders, last 12 months Insider sales History → $3.4M 13 trades by 3 insiders · 55% under pre-set plans
Net ▼ $2.7M net selling
Insider Date Trade Shares Price Value
Stock Michael Chief Financial Officer November 2, 2026 Sell pre-set plan 3,333 $16.74 $55,794
Babcock Ken Director October 26, 2026 Buy 14,500 $15.40 $223,300
Stock Michael Chief Financial Officer October 6, 2026 Sell pre-set plan 3,333 $20.00 $66,660
Stock Michael Chief Financial Officer October 1, 2026 Sell pre-set plan 3,333 $18.17 $60,561
Stock Michael Chief Financial Officer September 1, 2026 Sell pre-set plan 6,666 $19.84 $132,253
Stock Michael Chief Financial Officer August 4, 2026 Sell pre-set plan 3,333 $20.00 $66,660
Stock Michael Chief Financial Officer August 3, 2026 Sell pre-set plan 3,333 $17.95 $59,827
Murti Arjun N Director July 28, 2026 Buy 14,053 $17.79 $250,009
Stock Michael Chief Financial Officer July 1, 2026 Sell pre-set plan 9,999 $25.89 $258,874
Stock Michael Chief Financial Officer June 2, 2026 Sell pre-set plan 3,333 $31.00 $103,323
Stock Michael Chief Financial Officer June 1, 2026 Sell pre-set plan 13,332 $29.46 $392,761
Stock Michael Chief Financial Officer May 20, 2026 Sell pre-set plan 19,998 $33.48 $669,533

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced

  • October 21, 2026
  • July 23, 2026
  • April 23, 2026
  • January 29, 2026
  • October 17, 2025
  • July 25, 2025

Recent SEC filings

Data status

When each part of this page on Liberty Energy Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Liberty Energy Inc. in brief

What does Liberty Energy Inc. do?
Liberty Energy Inc. is a US-listed company in the oil & gas equipment & services industry. Its financial year ends in December.
What is Liberty Energy Inc.'s stock ticker?
Liberty Energy Inc. trades under the ticker LBRT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Liberty Energy Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Liberty Energy Inc. reported revenue of $4.4B, 13.6% higher than a year earlier, according to its SEC filings.
What is Liberty Energy Inc.'s free cash flow?
Liberty Energy Inc.'s free-cash-flow margin is -14.7% of revenue over the trailing twelve months, ranking 32 of the 35 oil & gas equipment & services companies we cover.
Who are Liberty Energy Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Liberty Energy Inc. buying back stock, and does it pay a dividend?
Liberty Energy Inc. spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 0.1% over the year.
What is Liberty Energy Inc.'s market cap?
On November 2, 2026, Liberty Energy Inc.'s market capitalisation was about $2.4B, with a price-to-earnings ratio of 60.4 and net debt of $1.2B. Market figures come from third-party market data and may be delayed.
Does Liberty Energy Inc. pay a dividend?
Yes: Liberty Energy Inc. paid $59.6M in dividends over the trailing twelve months, a dividend yield of 2.49% and a payout ratio of 147.8%.
How much debt does Liberty Energy Inc. have?
Liberty Energy Inc.'s debt-to-equity ratio is 67.2%, from its latest balance sheet (17.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Liberty Energy Inc.'s competitors?
In our Oil & Gas Equipment & Services peer group, the companies closest to Liberty Energy Inc. are Weatherford International plc, Oceaneering International Inc, Enerflex Ltd., NOV Inc. and TechnipFMC plc. The side-by-side comparison below sets their revenue, margins and growth against Liberty Energy Inc.'s.
Are insiders buying or selling Liberty Energy Inc. stock?
Over the last 12 months, Liberty Energy Inc.'s directors and officers reported 3 open-market purchases and 13 sales on Form 4. The insider trading page charts every trade.
When is Liberty Energy Inc.'s next earnings date?
Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Liberty Energy Inc. announces its own schedule.